Preferred Apartment Communities names CEO

Preferred Apartment Communities has named Joel Murphy as CEO.

Murphy succeeds Daniel DuPree, who will remain with the company as executive chairman of the board.

Murphy will continue as a member of the board, where he has served since May 2019.

Prior to his appointment as CEO of the company, Murphy served as CEO of New Market Properties, a wholly-owned subsidiary of the company since 2014 and as chair of the investment committee for the company since June 2018. Murphy has more than 30 years of experience as an executive officer, principal and adviser in retail and multifamily projects, portfolios and investments. Murphy served as president of the retail division of Cousins Properties Inc., as well as a member of its investment committee, from 1995 to 2008.

Murphy and DuPree have worked together since 1988. First, at New Market Development Co. from 1988 to 1992, then at Cousins Properties from 1992 to 2008.

DuPree joined PAC in 2011 and Murphy later joined PAC in 2014.